Petronas to lead industry-wide effort involving 25 PACs


… And the rat race continues anew.

Dateline 2015-07-02, TMI:

Petroliam Nasional Berhad (Petronas) is leading the Cost Reduction Alliance, Coral 2.0, an industry-wide effort towards cost discipline which involves 25 petroleum arrangement contractors (PACs).

The aim is to inculcate a cost-conscious mindset that will ultimately embrace a structural change Malaysia’s upstream business environment.

“This is not a mere cost cutting exercise. Beyond that, it is about ensuring the robustness and sustainability of our business,” Petronas’ chairman Tan Sri Sidek Hassan said in his speech at the opening ceremony of 15th Asian Oil, Gas and Petrochemical Engineering Exhibition (OGA 2015) today.

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